Car payments are at an all-time high. If you were lucky, or unlucky enough to have purchased a vehicle sometime in these few years, high interest rates combined with dealers wanting you to finance their bonus — I mean pay those asinine markups — likely means you signed a few lines that has you paying a bit too much for your vehicle.
Take my cousin who purchased her Toyota RAV4 Hybrid two years ago. While it was already tough to find a RAV4 or a RAV4 Hybrid available for sale, mostly because buyers can’t seem to get enough of these things, I did eventually locate one for her. Once she agreed to everything, she came out with a $671 monthly payment. While she is in a fairly good position financially, that’s still pretty high for a car payment, especially for a trim level that’s rung up from the bottom. But those not as fortunate to have decent credit might find themselves overextended in their monthly payments to have that shiny new RAV4.
Now it’s your turn to tell us just how much you pay for your vehicle. Don’t be shy — this is a no judgment zone. Let us know what you drive, any options or the trim, and if you paid a markup, as well as any other details you’d like to share with us in the comments.